Closing Costs
There are certain standard costs associated with closing the sale of a house. Sellers and buyers almost always share these costs, as specified in the sales contract.
As you'll see below, many of the costs result from getting your mortgage. Since BeneGroup, Inc. has extensive experience with closings and mortgages, we often explain the details of closing costs.
Loan Estimates (LEs)
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our LEs are very accurate, we can't always predict closing costs to the penny. We field buyers' questions about closing costs every day at BeneGroup, Inc., so please feel free to contact us if you have questions.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your application. At BeneGroup, Inc., we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Loan-Related Costs
- Appraisal Fee
- Pulling Your Credit Report
- Interest Payment
- Escrow Fees
- Various Taxes
- Loan-related costs
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
Property Taxes
- Insurance
- Transfer Taxes & Recording Fees
Homeowners Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Earthquake Insurance
BeneGroup, Inc. can help you understand closing costs. Give us a call at 4083956018.